Regent Pacific Group - PLE - VXR, page-23

A 20% or 25% JV investment by NST will do leaps and bounds for VXR and signal we are open for business. Assuming upcoming BFS initial capex of say $150M, 20% of that is only $30M. Pocket change really for NST.

VXR in production SP will be closer to $1.80. Given NST share holdings, this will be worth in excess of $80M. Not to mention, Precision's stake which could potentially be worth $27M - not a bad return on investment for a couple of millions invested.

JV will definitely help unlock the value of VXR assets, at the same time not 'lose' NST gold producer status.

All in my humble opinion only.